Brief: Schibsted to pay $400 mln to Telenor in online classifieds deal
11/05/2017 21:45
May 11 (Reuters) - Schibsted Asa SBSTA.OL
* Will make a cash payment of $400 million to telenor
regarding asia, latam online classifieds assets deal
urn:newsml:reuters.com:*:nFWN1ID18O
* Will finance amount with debt, and has available funding
* strengthens its position in the rapidly growing Brazilian
online classifieds site OLX.com.br by increasing the ownership
from 25 to 50 percent
* Additionally, Schibsted increases its ownership from 50 to
100 percent in the market leader in Chile, Yapo.cl, and creates
a strong online classifieds cluster in Latin America with
leading positions in 5 countries in the region
* OLX Brazil is the by far biggest online classifieds site
in Brazil, with 6.3 million daily active users. This represents
a daily reach of 5 percent in Brazil
Source text: http://bit.ly/2ppoTux
Further company coverage: SBSTA.OL
(Reporting By Terje Solsvik)
((terje.solsvik@thomsonreuters.com;))